Nokia's stock price has dropped further over a shorter period, reducing the cost.

The large debt load means Nokia could default, but it also leverages any upside.

The turmoil in Europe means Nokia is even riskier than RIM, but that also means a bigger potential payoff.

Keep in mind that this is a very risky play, and one where the time horizon is more likely measurable in years rather than months. But as Professor Damodaran writes, "...if the stars align, watch out!!!"